IOWA -- Farmers caught in the middle of the Trump administration's trade war with China can begin applying for new bailout funds starting Monday.
American farmers, especially soybean growers, have been operating at a deficit since China ceased most U.S. agriculture imports after President Donald Trump placed new tariffs on Chinese goods. To make up for those losses, the president has approved another $16 billion bailout program for farmers.
Beginning Monday, farmers can apply for part of that fund. The Iowa Department of Agriculture says the amount you qualify depends on which county you live in, and Iowans could see anywhere from $15 to $150 per acre in relief. Farmers can find more details at their local U.S. Department of Agriculture (USDA) office. Deputy Ag Secretary Julie Kenney says while the program is great for farmers in need, it’s not what everyone wants.
“Absolutely farmers are entrepreneurs. They are great business people, and they are great at producing, which is what they do really well, but they need to have markets for their products. We have had some trade disruptions that really have had an impact on the farm. This program will help us get through that, but really what we need is trade agreements with places like China and Japan,” said Kenney.
Visit the USDA website to find more information on how to apply.